Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Otter Tail Co. (NASDAQ:OTTR) by 41.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,880 shares of the utilities provider’s stock after selling 2,045 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Otter Tail were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Asset Planning Inc purchased a new position in shares of Otter Tail during the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Otter Tail in the third quarter worth $39,000. Crews Bank & Trust acquired a new position in shares of Otter Tail in the fourth quarter worth $81,000. Nisa Investment Advisors LLC boosted its stake in shares of Otter Tail by 28.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 333 shares during the last quarter. Finally, KBC Group NV increased its position in Otter Tail by 28.7% during the 4th quarter. KBC Group NV now owns 1,606 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Price Performance

NASDAQ:OTTR opened at $81.76 on Thursday. Otter Tail Co. has a 12-month low of $71.66 and a 12-month high of $100.84. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 11.40 and a beta of 0.53. The company’s 50-day moving average is $80.08 and its two-hundred day moving average is $78.70. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. Research analysts expect that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $0.525 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, February 14th. Otter Tail’s dividend payout ratio is presently 29.29%.

Otter Tail Company Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.